Bitcoin Gold Fork Why & How? Effect On Bitcoin Price

Bitcoin Gold Fork Why & How? Effect On Bitcoin Price

The revolutionize bitcoin is going to encounter another fork, this time for the Gold Fork. The Bitcoin Gold fork has been decided to be happening on 25th of October. A group of cryptocurrency enthusiasts plan this fork, including led by Jack Liao, CEO of Hong Kong mining manufacture Lightning ASIC with other Chinese mining tycoons and owners of bitcoin news portals.

But Why Another Fork?

The main idea behind this fork is to reduce the ASIC Resistant with integrating Equihash algorithm of bitcoin gold itself. The consequence for this will discourage the use of ASICs Mining. Instead, the new coin going to be mine using graphic cards as its based upon Equihash.

The current system of bitcoin algorithm is based upon increase and decrease the difficulty for mining, which results in difficult for finding current correct hash for blocks. All this making bitcoin more and more hard to mine.

When the bitcoin released the mining was very easy and could be achieved by the CPU only, but soon with the build of ASICs based hardware which could mine bitcoin more efficiently and fast, soon more hash power ASICs hardware’s stood the difficulty of Bitcoin to rise.